Ann: November Production Update, page-12

Nothing wrong with this production update..... Didn't finish the incline bypass until well into November. They will easily mine 3000 tpm in December. Zinc prices firm and $US / $AU exchange rate still around $1.39 so plenty of profit being made even on small ore hauls.  Development of shaft incline will bring ore levels even hire early to mid next year.  Off-take agreement with Groupo Mexico is at market prices so no mates rates discounts.  Sick of people complaining about con notes and dilution when market price right now is at a 21% discount to the last cap raise. Stephen Cupolous and Andrew Richards both tipping in $100K each at 2.4 cents.  The current MC is a measly $18 million and at the levels of production from just todays announcement (NOV) the companies profit would be somewhere in the vacinity of $3 million. This is so undervalued that Dec production of 3000 tpm should see this re rate to near 5 cents IMO. Anything under 2.4 cents IMO is cheap given that the last Cap raise was to acquire another 39% of the company. 

GLTAH

Cheers Rb